Research On The Impact Of Digital Finance On Multidimensional Relative Poverty Of Farmers

In 2020,China’s anti-poverty cause has made a historic breakthrough,and the focus of anti-poverty work will also shift from blocking absolute poverty to solving relative poverty,which will become an important constraint factor for China’s rural revitalization in the next stage.As one of the means for farmers to generate income,financial poverty alleviation has achieved initial results,but farmers still have problems of low efficiency and high cost due to regional restrictions and information asymmetry.Digital finance was first proposed at the G20 Summit in 2016,and as an important research topic,it mainly provides farmers with more low-cost and high-yield economic opportunities through the deep integration of digital technology and traditional financial industry.Measure the current situation of multidimensional relative poverty of farmers in China,combine digital finance with multidimensional relative poverty of farmers in China,explore the way that digital finance affects relative poverty,and provide theoretical basis and policy inspiration for slowing multidimensional relative poverty of farmers in China.This paper firstly theoretically analyzes the relationship between digital finance and multidimensional relative poverty of farmers,and expounds the direct and indirect mechanism of digital finance to alleviate multidimensional relative poverty of farmers.Secondly,21,559 sample data from CFPS database in 25 provinces and cities in China from 2014 to 2018 were selected to measure and analyze multidimensional relative poverty of farmers in China using a-F method.Finally,the panel data of11,843 continuous tracking families were screened out by matching the household data of three years.The estimation method of fixed effect model was used for empirical analysis,and the intermediary effect method and Bootstrap test were used to analyze the indirect impact of digital finance on farmers’ multidimensional relative poverty.Heterogeneity analysis was carried out for households with different incomes and regions.Based on the above empirical analysis,the following conclusions are drawn:First,in the multidimensional relative poverty measurement of farmers.From 2014 to2018,the incidence of multidimensional relative poverty among farmers in China decreased from 49.3% to 19.8%,and the multidimensional relative poverty index decreased from 0.212 to 0.076,but the intensity of multidimensional relative poverty deprivation gradually increased.Second,direct impact.Digital finance and the breadth of coverage,depth of use and degree of digitalization of sub-dimensions all have a negative and significant impact on the multidimensional relative poverty and social security poverty of farmers,while they have a negative but insignificant impact on the health poverty of farmers.Third,the impact of different household income and different regions.Digital finance has a greater impact on low-income and Midwestern farming households than on high-income and eastern farming households.Fourth,indirect influence.Digital finance can improve farmers’ non-agricultural income by promoting their entrepreneurship.Multidimensional relative poverty of rural households can also be alleviated by improving the level of equality of medical services.The conclusion shows that the multidimensional relative poverty of rural households in China has been greatly improved,and the relative poverty dimension of rural areas in China extends from one-dimensional income to multidimensional living standards,health,social security and other aspects.The development of digital finance can improve relative poverty situation in China.In view of this,this paper puts forward policy suggestions from three macro levels of improving the digital financial system,infrastructure construction and product innovation,and three micro levels of improving farmers’ digital financial literacy,strengthening the publicity of digital financial knowledge and broadening financing channels.